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IPB Petroleum Ltd. ( (AU:IPB) ) just unveiled an update.
IPB Petroleum has executed a binding terms sheet to acquire Peritas LLC, giving it access to 143,368 acres of oil and gas leases in Alaska’s National Petroleum Reserve, including the previously discovered but undeveloped Umiat oil field and exploration leases located on trend with ConocoPhillips’ major Willow project. The company has also applied for a nine‑month suspension and extension for its WA‑424‑P permit to secure funding or a farm‑in partner for a committed exploration well, raised about $1.27 million via a placement to fund technical and commercial studies on the Alaskan assets and potential further acquisitions, and called a general meeting to ratify the placement, approve the Peritas acquisition and change its name to Forte Energy Limited, collectively signaling a strategic repositioning around the Alaskan portfolio and broader growth ambitions.
The most recent analyst rating on (AU:IPB) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on IPB Petroleum Ltd. stock, see the AU:IPB Stock Forecast page.
More about IPB Petroleum Ltd.
IPB Petroleum Ltd is an Australia-based oil and gas exploration company listed on the ASX, currently focused on expanding its portfolio through upstream assets, including offshore Australian permits and new acreage in the National Petroleum Reserve of Alaska.
Average Trading Volume: 20,675,650
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$5.12M
Find detailed analytics on IPB stock on TipRanks’ Stock Analysis page.